For many of us taxes are in the rearview mirror for another year, but have you ever thought where the dollars and cents you were putting down on that 1040 actually went?
Pennies turn into nickels, nickels into dimes, dimes into quarters, and eventually they all become dollars and that is what drives not only business but the US Government as well. Now, a new report from the National Priorities Project is breaking it down to the cent.
For every dollar that Uncle Sam is banking, the largest portion goes to our military with 27 cents. Taking the next largest piece is health care which checks in at just under 23 cents. Unemployment and Labor cashes its check for a little less than a dime.
On the other end of the spectrum, Science gets the smallest piece with a little more than a penny (1.1 cents). Rounding out the bottom five are transportation (1.4 cents), international affairs (1.5 cents), energy and the environment (1.9 cents), and education (2 cents).
Scaling this up to the average Idaho taxpayer, they paid a little under $8,000 in taxes in 2013. That’s $3,740 less than the national average.
This means our average Idahoan kicked in just under $2,200 to the military, $780 for unemployment and labor, $161 for education, and a little less than $90 for science.
Back to our dollar, nearly 14 cents of every dollar are paying for the interest on federal debt.
For more information on where your tax dollars are going you can visit the National Priorities Project’s website